On October 18th 2013, Prime Minister Stephen Harper revealed the new Canada-European Union trade agreement that would possibly turn around Canada’s economy. “The Comprehensive Economic and Trade Agreement,” also known as CETA, is an immense improvement compared to the North American Free Trade Agreement and is tailored to eliminate thousands of tariffs, encourages foreign investment, and promotes the movement of labour across the Atlantic.

 When the trade agreement comes into effect, 98 percent of EU and Canadian tariffs will be immediately eliminated. If Canada strikes this deal, not only will the trade agreement have far reaching impacts that will affect almost every segment of the Canadian economy but it would also help millions of workers and consumers. The trade agreement will be beneficial to Canada’s economy and the overall benefits will hopefully bring more investment to Canada and give consumers more choices.

Sources:

http://www.cbc.ca/news/politics/5-ways-the-canada-eu-trade-deal-will-impact-canadians-1.2125510

http://www.theglobeandmail.com/news/politics/eu-harper/article14924915/